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Apr 1, 2013
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i mentioned the imf. let's go to emerging economies as a larger group and less talk about the so-called gross, brazil, russia, china, south africa, the large emerging economies. the bricks, the so-called brakes now account for 21%. and yet of the international monetary fund and the world bank to of the world's most robust economic and financial institutions were setting the international policy agenda that together the united states treasury plays a major role in the 70's and 80's, and 90's and teaching, again, what they needed to do to turn around the economy's and become emerging markets. at these institutions the brakes only have 11 and and a half percent of the voting shares despite the 21% population approval in the economy. the contrast, the countries of the eurozone area account for about 25 percent of what was gdp that is 32 percent of the votes. why is it a trust issue? well, in order for emerging economies to continue to grow, to continue to be our economic indulgence will they do so? will they
i mentioned the imf. let's go to emerging economies as a larger group and less talk about the so-called gross, brazil, russia, china, south africa, the large emerging economies. the bricks, the so-called brakes now account for 21%. and yet of the international monetary fund and the world bank to of the world's most robust economic and financial institutions were setting the international policy agenda that together the united states treasury plays a major role in the 70's and 80's, and 90's and...
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Apr 17, 2013
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the imf says japan's debt will balloon by 2 1/2 times its domestic gross product by 2018. >>> the u.s. housing market is recovering. the latest figures for new home building is back to the levels of the collapse of lehman brothers in 2008. housing starts in march exceeded 1 million for the first time in about five years, up 7% from the previous month. it was sharply above market expectations. construction of condominiums and other multi-family buildings rose 27%. single housing fell 25%. a fall in home mortgage rates has supported home buyers. the declining rates are due to u.s. monetary easing measures. however, some say this trend is leading to price increases in residential land and construction materials. >>> the markets in the u.s. rebounded tuesday following positive data, earnings and rebound in the price of gold. the dow jones industrial average ended at 14,756, up more than 1%. the tech heavy nasdaq was up 1.5% at 3 thinks3,264. now to ramin at the new york stock exchange. it got a sharp downgrade and how's the u.s. trading? >> we did get a bit of a boost and the u.s. economi
the imf says japan's debt will balloon by 2 1/2 times its domestic gross product by 2018. >>> the u.s. housing market is recovering. the latest figures for new home building is back to the levels of the collapse of lehman brothers in 2008. housing starts in march exceeded 1 million for the first time in about five years, up 7% from the previous month. it was sharply above market expectations. construction of condominiums and other multi-family buildings rose 27%. single housing fell...
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Apr 12, 2013
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. >> why is there such reluctance from the eurozone and from the imf to help cypress -- cyprus out of this. to the greeke it bailout, it was to a 40 billion euro. >> a good point. i made this in a speech recently. i dealt that the bailout of such a press -- of cyprus was a rounding error. 23 billion euros is not small change. it is small when you look at the size of the new budget. it is really small change. germanecause it is a election year. the last thing merkel wants to do is bailing out the irresponsible, the russian oligarchs with their prospects money, which is how it is being portrayed in germany. the other thing i would give is, cypress is too small for anyone to be bothered about. it is unlikely, so the thinking goes, to cause much of a problem in the eurozone. way germany would tell spain that all of your bank -- then deposits would have to be larger. cyprus is thought of as irrelevant. >> thank you for joining us from london. ahead here on the program, a u.n. refugee camp was had 3000 people. a report by doctors without borders. and from the netherlands, how -- a leadingak
. >> why is there such reluctance from the eurozone and from the imf to help cypress -- cyprus out of this. to the greeke it bailout, it was to a 40 billion euro. >> a good point. i made this in a speech recently. i dealt that the bailout of such a press -- of cyprus was a rounding error. 23 billion euros is not small change. it is small when you look at the size of the new budget. it is really small change. germanecause it is a election year. the last thing merkel wants to do is...
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Apr 7, 2013
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i mentioned the imf. let's go now from chile and barbados the emerging economies of a larger group, and let's talk about the so-called bricks are brazil, russia, china, south africa. the large emerging economies. the so-called bricks now account for 21% of global output. and yet at the international monetary fund and the world bank, two of the world's most robust economic and financial institutions are setting the international policy agenda that, together with the united states treasury, played a major role in the 1970s, '80s, and '90s in teaching, again, former third world countries, what he needed to do to turn around their economies and they come emerging market. at these institution, the brics only have 11.5% of the voting shares despite their 21% contribution to the global economy. in contrast, the countries of the ozone areas account for about 25% of global gdp and have 32% of the votes. why is that a trust issue? well, in order for emerging economies to continue to grow, they continued to be the e
i mentioned the imf. let's go now from chile and barbados the emerging economies of a larger group, and let's talk about the so-called bricks are brazil, russia, china, south africa. the large emerging economies. the so-called bricks now account for 21% of global output. and yet at the international monetary fund and the world bank, two of the world's most robust economic and financial institutions are setting the international policy agenda that, together with the united states treasury,...
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Apr 1, 2013
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the eu and imf almost wanted to be punitive to cyprus because they had so much offshore money coming from russians. and they made -- the imf made it clear they don't like it. >> well, i think you're right, michelle, as usual. but dealing with these difficult economic and financial situations in cyprus in greece and many other countries has taught me a fundamental lesson, that you cannot manage these things as if they were a morality play. you have to find pragmatic solutions to stabilize the economic outlook and restore investor confidence. that should be the issue, not whether there was russian money or other money laundering here. of course that should not be tolerated and should not be condoned and should not be reenforced. but there are ways to clean up those problems independent of forcing the economy into a downward spiral which, i'm afraid is about to happen and raising questions on you about the broader stability of the euro zone. >> yeah, i've seen estimates where they think that the economy will fall 10% a year for the next three years. that would be a decline of 30%, worse
the eu and imf almost wanted to be punitive to cyprus because they had so much offshore money coming from russians. and they made -- the imf made it clear they don't like it. >> well, i think you're right, michelle, as usual. but dealing with these difficult economic and financial situations in cyprus in greece and many other countries has taught me a fundamental lesson, that you cannot manage these things as if they were a morality play. you have to find pragmatic solutions to stabilize...
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Apr 9, 2013
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lew was in berlin for talks ahead of the imf meeting in washington. >> 5 the u.n. peacekeepers were killed. >> the rebels backed by sudan are believed to be responsible. south saddam broke away after decades of civil war. -- south sudan broke away. >> uhuura cannot has been sworn in. he praised kenyan of voters for rejecting what he called "the tents -- "attempts to influence the election." is accused of crimes erupting after the 2007 election. >> meeting with benjamin netanyahu to revive middle east peace talks, secretary of state john kerry says he will be working with israeli and palestinian leaders to improve relations. he warned against seeking a rushed resolution saying it's important to first seek trust. >> the german justice minister in china for annual talks on the rule of law, part of the meeting. >> has been barred for leaving the city because it allegations of tax evasion that he has never faced formal charges. >> we have more on a man stuck in a legal limbo. it has been one year since they raided his beijing office and arrested the german shipping agen
lew was in berlin for talks ahead of the imf meeting in washington. >> 5 the u.n. peacekeepers were killed. >> the rebels backed by sudan are believed to be responsible. south saddam broke away after decades of civil war. -- south sudan broke away. >> uhuura cannot has been sworn in. he praised kenyan of voters for rejecting what he called "the tents -- "attempts to influence the election." is accused of crimes erupting after the 2007 election. >> meeting...
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Apr 2, 2013
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because we're talking about monetary policy, the imf. what's going on with the fed. but what i thought was really interesting was what you said about how they -- the imf was always going to be led by a european. and why that was. >> and that was decided at bretton woods. >> that was decided after breton woods. the americans always intended that the imf would be run by an american, january 1946, president truman is going to nominate hear dexter white to be the first managing director. why doesn't he do it? he gets a long memo bum from fbi director jay edgar hoover saying don't think about it, i can prove this is a soviet spy. >> we live with these issues today, right, the issue of gold, whether or not it should be the currency that backs -- or should be the thing that backs our currency instead of having a fee at currency. >> that's right. it had been harry dexter white's determination the u.s. dollar would be backed by gold. he said it was inconceivable there would be a time it wouldn't. but the actual breton system didn't last long. it wasn't until 1961 the first ni
because we're talking about monetary policy, the imf. what's going on with the fed. but what i thought was really interesting was what you said about how they -- the imf was always going to be led by a european. and why that was. >> and that was decided at bretton woods. >> that was decided after breton woods. the americans always intended that the imf would be run by an american, january 1946, president truman is going to nominate hear dexter white to be the first managing...
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Apr 3, 2013
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the imf has now confirmed it will contribute around 1 billion euros to the bailout of cyprus. >> that is about 1/10 of the overall package for the cash- strapped island nation. the largest aid payment is to come from the eu. earlier, the cypriot finance minister was sworn in at the presidential palace. he promised to fully implement the terms of the bailout. it does, however, still need to be ratified by the national parliaments of the other eurozone member states. inflation in the eurozone continues to be a concern, although the rate of increase has fallen to its lowest level in almost three years according to newly released numbers. >> consumer prices rose by 1.7% compared to the year before. it is the third month in a row that inflation has slowed. analysts say prices are affected by the recession and high unemployment. that inflation data has traders speculating about what the ecb might do at its policy meeting this week. our correspondent has more from the frankfurt stock exchange. >> the relatively low consumer price inflation in the eurozone -- this caused a lot of speculation
the imf has now confirmed it will contribute around 1 billion euros to the bailout of cyprus. >> that is about 1/10 of the overall package for the cash- strapped island nation. the largest aid payment is to come from the eu. earlier, the cypriot finance minister was sworn in at the presidential palace. he promised to fully implement the terms of the bailout. it does, however, still need to be ratified by the national parliaments of the other eurozone member states. inflation in the...
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Apr 12, 2013
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down the situation, but the finance ministers also made clear that the share which the eurozone and imf is playing is like the red line, and for the rest, the cypriots are responsible to come up with the money. that might be bailing out banks. that might be privatization for also hire taxis, but there was also other good news for ireland -- privatization or higher taxes. it is a reward for ireland and portugal, a reward for their hard austerity measures. >> some worries about cyprus' bailout weighed on the markets on friday. we have this report from frankfurt. >> the rescue package for cyprus led to irritations, also here on the frankfurt floor, especially the discussions about the fact that maybe the money will not be enough to avoid bankruptcy of cyprus. it dragged down the mood on the frankfurt floor. the dax started nosediving, but the negative trend has been backed by new economic data from the u.s. consumer confidence and retail sales went down significantly, and this has been a bad surprise. maybe it is because of the fact that unemployment data in march has been weak. >> now for
down the situation, but the finance ministers also made clear that the share which the eurozone and imf is playing is like the red line, and for the rest, the cypriots are responsible to come up with the money. that might be bailing out banks. that might be privatization for also hire taxis, but there was also other good news for ireland -- privatization or higher taxes. it is a reward for ireland and portugal, a reward for their hard austerity measures. >> some worries about cyprus'...
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Apr 3, 2013
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imf reached an agreement to contribute 1 billion euros to the country's bailout or bail in depending on your point of view. they expect an agreement to have approval by the board in early may. all of this according to dow jones news wires. here's a look at what's on the agenda today in the u.s. the march adp employment report out at 8:15 a.m. eastern. it's looking for an increase of 194,000 private sector jobs. roughly in line with what we saw in february which did proceed a strong employment report and has had hopes raised for a strong one again on friday. at 10:00, it's the marsh ism services index. economists looking for a reading of 55.8 which is a slight downtick from february and at 3:30 san francisco fed president john williams speaks about monetary policy. look for results from conagra and an interview with dan tarullo. that will be on "squawk box" at 8:30 a.m. eastern. for more on how markets are shaping up today, joining us now is chief economist and cio. it's great to see you. it was your note earlier this week that really helped to focus attention on what was happening in
imf reached an agreement to contribute 1 billion euros to the country's bailout or bail in depending on your point of view. they expect an agreement to have approval by the board in early may. all of this according to dow jones news wires. here's a look at what's on the agenda today in the u.s. the march adp employment report out at 8:15 a.m. eastern. it's looking for an increase of 194,000 private sector jobs. roughly in line with what we saw in february which did proceed a strong employment...
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Apr 16, 2013
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major hurdle towards getting its next installment of bailout funding from the eu, the ecb, and the imf. the greek foreign minister said that athens has agreed to the next age of economic reforms. the greek economy is in its sixth year of recession. unemployment has soared to a record 27%. economists are saying it could start growing again next year. >> back to cyprus now, where the president of the island is busy promoting some creative damage control after the eu approved a bailout that could mean up to 60% of bank balances are taken from deposits exceeding 100,000 euros. nicos anastasiades says he wants to get passports to foreign account holders who use -- lose 3 million euros or more as a result of the bailout. the prospect of free movement within the european union is especially appealing to russians, who hold billions in cypriot bank accounts. >> it looks like banks in the united states are climbing out of the global financial crisis. citigroup rake in the profits in the first quarter, making a 17% leap over a year ago. consumer banking revenues remain unchanged. citigroup took a
major hurdle towards getting its next installment of bailout funding from the eu, the ecb, and the imf. the greek foreign minister said that athens has agreed to the next age of economic reforms. the greek economy is in its sixth year of recession. unemployment has soared to a record 27%. economists are saying it could start growing again next year. >> back to cyprus now, where the president of the island is busy promoting some creative damage control after the eu approved a bailout that...
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the greatest is to meet the terms set out by the eu and imf. only then will it receive the 10 billion euros it needs. >> how many cypriot officials might be swept up in this new criminal investigation? for more, we are joined now live on the line by correspondent nathan morley in nicosia. how far could this investigation go? there have been rumors implicating not only the finance minister but the president as well. >> indeed. difficult question to answer how many people will be swept up, but sarris is a key figure in these bailout talks. as we reported last week, he was the chairman of the failed bank, so he also has questions to answer. the president as well, i'm afraid. the investigation committee looking into a relative of his who spirited away 10 billion euros just before the bailout. we are looking at proposals coming from the state tonight about reductions in civil interested in who is to blame and who is involved. i know the minister. he is smart and keen, but he is stepping into the shoes, which are pretty big, so it remains to be seen
the greatest is to meet the terms set out by the eu and imf. only then will it receive the 10 billion euros it needs. >> how many cypriot officials might be swept up in this new criminal investigation? for more, we are joined now live on the line by correspondent nathan morley in nicosia. how far could this investigation go? there have been rumors implicating not only the finance minister but the president as well. >> indeed. difficult question to answer how many people will be...
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Apr 28, 2013
04/13
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you look at what the imf does. a lot of the programs that they do with some of these countries are really designed to coax them towards free markets, to let them trade with us more. so i'm not so sure we're not doing a lot of what you're already talking about. i think we're already doing it. >> i hear what you say. john wakefield, come in on this. i want your thoughts on this. again and again i have to say, how is throwing more money at the issue effective? we've got these people who really are attacking us and we're not seeing the reforms that we expected in those countries. maybe say hey, wait a second. you got to fix your own problems and quit blaming the united states. that's your own government's problem. go ahead, john. >> yeah. and what gary b said is -- we don't have deep pockets anymore. we have $16 trillion in debt. this isn't like okay, we're going to let kids starve in africa because the dictator hates us. we've got kids starving here in our country. we have a lot of problems in this country. it really
you look at what the imf does. a lot of the programs that they do with some of these countries are really designed to coax them towards free markets, to let them trade with us more. so i'm not so sure we're not doing a lot of what you're already talking about. i think we're already doing it. >> i hear what you say. john wakefield, come in on this. i want your thoughts on this. again and again i have to say, how is throwing more money at the issue effective? we've got these people who...
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Apr 9, 2013
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officials were talking to the imf and telling them not to push so hard on the details on the bailout because the last thing they wanted was to have a flare up in the debt crisis. yes, i'm sure they're very frustrated, but ultimately, do they have the ability to make germany do anything different? no, they don't. >> kelly, let's bring you in from paris where we know the french economy is struggling a little bit. what happened yesterday with the moscovici? do we know? >> no, ross. how extraordinary. if you take a step back and consider that here is jack lew making his second trip to europe, people were talking about the fact that he had made a point of going to china first and then europe, and then among the places he's going, he started yesterday in brussels, met with european leaders. then it was to frankfurt to meet with draghi last night. he was supposed to wrap things up with moscovici. that trip canceled, then we heard they were trying to find a better time because there was a scheduling conflict. sotd point being, it's a embarrassment for france, frankly. they've turned around,
officials were talking to the imf and telling them not to push so hard on the details on the bailout because the last thing they wanted was to have a flare up in the debt crisis. yes, i'm sure they're very frustrated, but ultimately, do they have the ability to make germany do anything different? no, they don't. >> kelly, let's bring you in from paris where we know the french economy is struggling a little bit. what happened yesterday with the moscovici? do we know? >> no, ross. how...
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Apr 2, 2013
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the imf is going there this week. there will be discussions with them. but it is only fair to say that president obama and the administration share real concerns about the direction that egypt appears to be moving in. it is our hope that there is still time to be able to turn the corner. but the recent arrests, the violence in the street, the lack of inclusivity with respect to the opposition and public that make a difference to the people of egypt are all of concern today. president obama would make it clear to everybody that the united states went there, as i said, not to support any one person, and certainly, not to support one party over another, but to try to help the people of egypt to realize the dreams that they expressed in to rehr -- and to rehr square. and the dreams that they have tried to put into reality with the election and through faith in the democratic process. i think there's still time for that to be delivered, but in the and, if the government of egypt and the people of egypt that will make that decision. >> iraq and syria. >> with
the imf is going there this week. there will be discussions with them. but it is only fair to say that president obama and the administration share real concerns about the direction that egypt appears to be moving in. it is our hope that there is still time to be able to turn the corner. but the recent arrests, the violence in the street, the lack of inclusivity with respect to the opposition and public that make a difference to the people of egypt are all of concern today. president obama...
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shares in europe fall as an extra 5.5 billion euros will secure its eu/imf program. >>> and the u.s. secretary of state john kerry steps into something of a hornet's nest on the korean peninsula as speculation mounts over wa kind of arsenal pyongyang may actually have. >> announcer: you're watching "worldwide exchange" bringing you business news from around the globe. >>> all right. 23 you've just joined us stateside, good morning. welcome to the start of your global trading day. we've had four days of gains, fresh record closes against the s&p and the dow yesterday, no surprise perhaps to see futures indicating a weaker start. today we asked some, wa, 18 and a bit, 19 points below fair value for the dow, the nasdaq at the moment is some five points below fair value. both these markets up 0.4% yesterday and, sorry, not the nasdaq. the nasdaq was up 0.1%, the s&p was up 0.4% yesterday and right now that is called some 2.7 points below fair value. european markets have four days of rallies that have come to a halt this morning. the ftse 100 wiping out yesterday's gains, the xetra dax a
shares in europe fall as an extra 5.5 billion euros will secure its eu/imf program. >>> and the u.s. secretary of state john kerry steps into something of a hornet's nest on the korean peninsula as speculation mounts over wa kind of arsenal pyongyang may actually have. >> announcer: you're watching "worldwide exchange" bringing you business news from around the globe. >>> all right. 23 you've just joined us stateside, good morning. welcome to the start of your...
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the imf is cutting its asia pacific growth outlook to 5.7% citing slower growth in china. >>> and the japanese prime minister shinzo abe is in moscow meeting with the russian prime minister. it's the first top level meeting between the two country necessary a decade. the two leaders have a pretty good laugh. they're trying to settle a long standing territorial dispute that has hindered trade efforts. japan is looking for a cheaper source of natural gas. rush na has plenty to export. >>> south korea pulled workers out of kaesong after north korea withdrew its 53,000 workers and rejected talks on the industrial park. let's get more from seoul with chery kang. hi, chery. >> hi, rots. now, the last remaining 50 south koreans want to return to the south clearing out of the district complex at 5:00 p.m. korean time, which was about 48 minutes ago. but the latest i hear was that they weren't able to do just yet because they haven't got the clearance from the north korean side and certainly keeping an eye out on what's going on up there. this looks like a stage for the two koreas to save thei
the imf is cutting its asia pacific growth outlook to 5.7% citing slower growth in china. >>> and the japanese prime minister shinzo abe is in moscow meeting with the russian prime minister. it's the first top level meeting between the two country necessary a decade. the two leaders have a pretty good laugh. they're trying to settle a long standing territorial dispute that has hindered trade efforts. japan is looking for a cheaper source of natural gas. rush na has plenty to export....
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Apr 11, 2013
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. >>> in an interview with maria bartiromo, the imf chief legarde suggested central banks around the world must do more to boost growth since governments have limited fiscal impact. >> we are in a low interest environment and more needs to be done. at the moment, government with their fiscal policies have limited space. and yet growth has to pick up. who bears the burden? central bankers with monetary , whether it's quantiteasie, ful this n the japanese authorities. doing what they can to encourage growth, toth when thee for a long time like in japan and to make sure that credit flows into the real economy so that investment can start again. >> there's so much debate about this subject. and today we're hearing all different commentary about when the federal reserve should ease back on its stimulus. do you think there are damages to this plan longer term? i know you said in your speech inflation is okay now, but what are the downside risks? continuing this until 2015 versus stopping this summer? >> first of all, the fed has indicated that they would do so with two compasses, if you wi
. >>> in an interview with maria bartiromo, the imf chief legarde suggested central banks around the world must do more to boost growth since governments have limited fiscal impact. >> we are in a low interest environment and more needs to be done. at the moment, government with their fiscal policies have limited space. and yet growth has to pick up. who bears the burden? central bankers with monetary , whether it's quantiteasie, ful this n the japanese authorities. doing what...
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Apr 21, 2013
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direct aid, military aid, economic aid, debt forgiveness, $2 billion debt forgiveness, approval for imf loans worth about $5 billion right there. so the egyptian government is not at all adverse to foreign money. it's just adverse, it wants its for itself and not for anyone else in civic society. we have to use our leverage. we have to put some conditions on our foreign aid. to protect the rights of minorities, to protect human rights, and to promote our interest in egypt, such as flourishing of real democracy, a liberal democracy, and a strong civic society. that's the only way that, you know, the other interesting thing about paul had mentioned the correlations between women's rights and religious freedom and so forth. there's also the converse is true. when there is religious repression and restrictions, there is instability. and q. has documented this. so it's in our own national interest not just our ideals to have, to ensure that a country respect the rights of its national citizens. so i think that the answer is that we have to start making clear that we expect religious freedom
direct aid, military aid, economic aid, debt forgiveness, $2 billion debt forgiveness, approval for imf loans worth about $5 billion right there. so the egyptian government is not at all adverse to foreign money. it's just adverse, it wants its for itself and not for anyone else in civic society. we have to use our leverage. we have to put some conditions on our foreign aid. to protect the rights of minorities, to protect human rights, and to promote our interest in egypt, such as flourishing...
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Apr 17, 2013
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the imf says there's no silver bullet. the fund urging developed economies to take prudent steps to boost demand. you can go online for more. >>> still to come on the show, economists are expecting an imminent rate hike in brazil. will the central bank make the much anticipated move today? we'll discuss that when we come back. we'll leave you with pictures of the coffin of former u.k. prime minister margaret thatcher. her funeral due to begin in just about 40 minutes time. usiness. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com >>> welcome back to the program. we'll take a look at u.s. futures which are pointed lower this morning despite a rebound yesterday it looks like markets are under pressure
the imf says there's no silver bullet. the fund urging developed economies to take prudent steps to boost demand. you can go online for more. >>> still to come on the show, economists are expecting an imminent rate hike in brazil. will the central bank make the much anticipated move today? we'll discuss that when we come back. we'll leave you with pictures of the coffin of former u.k. prime minister margaret thatcher. her funeral due to begin in just about 40 minutes time. usiness....
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the imf shows up. >> could the imf be giving them more food. >> it's a very tricky situation. >> you have to cut back these subsidies. they don't have the political alliance at home. so they behaved in a short-sighted way. it would be a tragedy for the camp david peace treaty. it's a real dilemma. >> but this week when you heard we're going to detonate a nuclear device and hit the west coast, was there -- do they have the capability of detonating or would they ever detonate a nuclear device in their region? >> if you look at their history, joe, what we have seen is they have come up to the red line. it would be suicide, the end of the whole regime. at the same time he's a young untested kid. it is a crazy regime. but at the end of the day you have to believe that they will pull back. you know, the problem with them, they're trying to maximize three thingsment they want to be politically isolated, economically integrated and strategically invulnerable. they want to be politically isolated. they don't want their people on cell phones and ipads. and this nuke was insurance against regim
the imf shows up. >> could the imf be giving them more food. >> it's a very tricky situation. >> you have to cut back these subsidies. they don't have the political alliance at home. so they behaved in a short-sighted way. it would be a tragedy for the camp david peace treaty. it's a real dilemma. >> but this week when you heard we're going to detonate a nuclear device and hit the west coast, was there -- do they have the capability of detonating or would they ever...
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Apr 20, 2013
04/13
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i am quite convince the if i go to the meetings in a global level, imf don't know what else, but we have some form of some kind of new global governments. i bet we are not yet. we are in the beginning to find better, and in this dimension, maybe a very difficult way, complex way of european integration in the last 60 years. it's been a major success. it may be in some way, to go on, billing more original, global, whatever governments. [inaudible] we suffered, and all allow this, and only rces in the last three years, adi uderstand that is a success story, but we have to fight it. we have five reasons. [inaudible] resolve at this point. therefore -- [inaudible] we are working again and again, the parliament in germany when we approve. [inaudible] the member states -- there's a lot of member states, and we let the common results, still at risk. excuse. if you don't improve your competitiveness, we will get -- that's been proven. it will happen. we are -- [inaudible] speak to degrees of which it's difficult, to in conflict of risk, and then we can. make a list, differences to buy time and t
i am quite convince the if i go to the meetings in a global level, imf don't know what else, but we have some form of some kind of new global governments. i bet we are not yet. we are in the beginning to find better, and in this dimension, maybe a very difficult way, complex way of european integration in the last 60 years. it's been a major success. it may be in some way, to go on, billing more original, global, whatever governments. [inaudible] we suffered, and all allow this, and only rces...
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Apr 12, 2013
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and the imf bailed them out to the tune of nearly $150 billion back in 2010. unemployment in greece is now the highest in the eurozone area although there are many countries that are comparable. i think spain is around 25% right now. the jobless rate for greeks aged 15 to 24 is 59.3%. unemployment across the eurozone is 12%. that is record 19.1 million people out of work in that zone. so a lot of lessons to be learned from mistakes that have been made in western europe. gregg: if only someone would pay attention. we're just getting started right now. demands for answers from the irs today after it says it can search your e-mails. they don't need a warrant they say. why congress is now getting involved in this. martha: plus a state of emergency after a deadly tornado tears across mississippi, damaging homes, leaving thousands of people without power today. the danger is not overyet in this area. we'll tell you where these dangerous storms are headed next. gregg: more trouble for the owner of a home swallowed up by a sinkhole. >> what am i going to do? put back
and the imf bailed them out to the tune of nearly $150 billion back in 2010. unemployment in greece is now the highest in the eurozone area although there are many countries that are comparable. i think spain is around 25% right now. the jobless rate for greeks aged 15 to 24 is 59.3%. unemployment across the eurozone is 12%. that is record 19.1 million people out of work in that zone. so a lot of lessons to be learned from mistakes that have been made in western europe. gregg: if only someone...
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Apr 9, 2013
04/13
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you can do more of the same keep running imf, and the everything else the way it is. just keep doing it the way it's going. number two, which i think the white house announced last friday is try to improve keep doing the programs and everything else. but try to improve the substance and the process. better courses, better substance to the courses. picking better people attend as opposed to crony and, you know, unmitigateble people. better leahy bedding. understanding the data bases that exist are insufficient. and then last, if you really want to improve everything just rethink everything and recognize that although in many cases nothing is wrong with the program. there's some countries where everything is wrong. and the administration and -- are a total disasters and scrapped. i'm not suggesting everything is wrong but should there are certain places in context in which everything is wrong. we need to rethink everything and need to be willing to cut or threaten to cut the assistance as appropriate. john, chip, thank you very much. i think this discussion really goes
you can do more of the same keep running imf, and the everything else the way it is. just keep doing it the way it's going. number two, which i think the white house announced last friday is try to improve keep doing the programs and everything else. but try to improve the substance and the process. better courses, better substance to the courses. picking better people attend as opposed to crony and, you know, unmitigateble people. better leahy bedding. understanding the data bases that exist...
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Apr 3, 2013
04/13
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the imf is going there this week. there will be discussions with them. but it is only fair to say that president obama and the administration share real concerns about the direction that egypt appears to be moving in. it is our hope that there is still time to be able to turn the corner. but the recent arrests, the violence in the street, the lack of inclusivity with respect to the opposition and public ways that make a difference to the people of egypt are all of concern today. president obama would make it clear to everybody that the united states went there, as i said, not to support any one person, and certainly, not to support one party over another, but to try to help the people of egypt to realize the dreams that they expressed in to rehr -- and to rehr square. and the dreams that they have tried to put into reality with the election and through faith in the democratic process. i think there's still time for that to be delivered, but in the and, if the government of egypt and the people of egypt that will make that decision. >> iraq and syria. >>
the imf is going there this week. there will be discussions with them. but it is only fair to say that president obama and the administration share real concerns about the direction that egypt appears to be moving in. it is our hope that there is still time to be able to turn the corner. but the recent arrests, the violence in the street, the lack of inclusivity with respect to the opposition and public ways that make a difference to the people of egypt are all of concern today. president obama...
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Apr 23, 2013
04/13
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[laughter] you know, you've got to meet the imf standards, this or that. and people kind of of -- you can tell from the look that they're sort of asking, well, how's your budget going? i gave a speech at uva in which i talked about getting our domestic effort together so that we can really speak as we say in the parlance of the law with clean hands. and we need to do that. >> i have -- and if i could respond as chairman, mr. engel and i are working in tandem on an authorization bill. we will have that passed over to the senate. we're talking to our senate counterparts, and it's our goal to have that on the president's desk. but assistance that the secretary of state could give us in this regard would be welcome. >> very supportive, mr. chairman, and i congratulate you on that. that's great. >> we're going to go to mr. higgins for his question. >> thank you, mr. secretary, for sticking it out. i've been working with the state d. regarding the assassination of john granville from buffalo who was murdered five years ago in the sudanese capital of khartoum. is
[laughter] you know, you've got to meet the imf standards, this or that. and people kind of of -- you can tell from the look that they're sort of asking, well, how's your budget going? i gave a speech at uva in which i talked about getting our domestic effort together so that we can really speak as we say in the parlance of the law with clean hands. and we need to do that. >> i have -- and if i could respond as chairman, mr. engel and i are working in tandem on an authorization bill. we...
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Apr 26, 2013
04/13
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CNBC
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in the likes of spain and greece and the imf -- >> and your monetary union is where this is -- >> and there's no austerity with the currency, right? so that's clear. and in the uk, all the talk, wa we count was a lot of investment spending. they're trying to change the wealth around a little bit. normally what you would do is cut spending and cut taxes to promote growth at the same time instead of cutting one thing. the point is they cut and you try to make the stimulus instead of the supply side. >> on the fiscal side, there's been no agreement partly because of research like this to pursue those kinds of policies like this after the crisis, or do you do it on the monetary side? the central bank will step up when no one else can decide. anyway, we'll want to hear from you on this. who is right in the austerity debate? who is at fault for the way the whole matter tweeted out? jeff tweeted in to say, it doesn't matter who wins the austerity argument, only who loses it, and that is unemployment workers. yes. keep your poresponses here comi on "worldwide exchange." tweet us or reach us i
in the likes of spain and greece and the imf -- >> and your monetary union is where this is -- >> and there's no austerity with the currency, right? so that's clear. and in the uk, all the talk, wa we count was a lot of investment spending. they're trying to change the wealth around a little bit. normally what you would do is cut spending and cut taxes to promote growth at the same time instead of cutting one thing. the point is they cut and you try to make the stimulus instead of...
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Apr 8, 2013
04/13
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when she was elected prime minister we had had the winter of discontent, we had called in the imf, we were essentially bankrupt and she felt that the united kingdom was headed in the wrong direction and she did some very, very tough things, she took on the miners, she took on union, but she also did other things, she spread for example, the appeal of capitalism. across british society in a way that had never happened before. she gave more people a direct stake in the economy in a kind of capitalist way. and that may have had a lasting impact as well. she was a reformer, a transformer, she was very tough, but she knew what she was trying to do. >> how remarkable was it that she was a grocer's daughter, a woman, not in the -- she wam from a different class system. from a culture, a political culture that was class-driven. >> i think you're right, it was difficult and it was difficult to be a woman in a man's world in the conservative party in those days did not have many leading figures who were women. as well as the many who had come from the etonian background. so i think she had to s
when she was elected prime minister we had had the winter of discontent, we had called in the imf, we were essentially bankrupt and she felt that the united kingdom was headed in the wrong direction and she did some very, very tough things, she took on the miners, she took on union, but she also did other things, she spread for example, the appeal of capitalism. across british society in a way that had never happened before. she gave more people a direct stake in the economy in a kind of...
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Apr 18, 2013
04/13
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because there's a realization that actually all is not well and we had that warning yesterday from the imf saying there are a lot of companies with a lot of countries that don't have sustainable debt. that is a realization that makes financial debt unattractive at the moment. >> we see some positive points on that part. to 36% in equity is not a lot. we have a bit of overweight in japan and consumer discretionary. but apart from that, we are really cautious until the -- well, the result season is behind us. >> speaking of results season, morgan stanley does report ahead of the u.s. opening bell today. mary thompson is back at cnbc headquarters with a preview. we had goldman yesterday, morgan stanley today and i bet trading revenue in particular will be a focus. >> that certainly will be a focus. before i get to morgan stanley, i want to talk about american express, too. that financial giant reported after the bell yesterday. it reported disappointing results on the top line as cost controls boost the firm's profits. now, as expected, it's business, declining 6% in the first quarter. that w
because there's a realization that actually all is not well and we had that warning yesterday from the imf saying there are a lot of companies with a lot of countries that don't have sustainable debt. that is a realization that makes financial debt unattractive at the moment. >> we see some positive points on that part. to 36% in equity is not a lot. we have a bit of overweight in japan and consumer discretionary. but apart from that, we are really cautious until the -- well, the result...
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Apr 11, 2013
04/13
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jim, the headlines this morning from the ft include those comments from christine legarde from the imf. real concerns she has about what's happening in what she's calling a three-speed global economy, thinking this could be what leads to the next big crisis. how much do you think about this and how much credence do you give it? >> well, i'm just fresh off the plane from three days in africa. i can certainly feel some sympathy for what she's saying. that part of the world is doing spectacularly well and it's very exciting the.we have to remember that there are, albeit smaller places that are still doing exceptionally well in many parts of the emerging world. i don't know, i think the broader issue is that the bank of japan's policy, which is so warranted and welcome, in my opinion, for what japan needs. i just saw the previous discussion with joe wondering about the stock market. it's probably an incorredirect consequence of what the japanese have just done. it's having a huge impact on the european bond yields, including the peripherals and probably many other places. and in some cases
jim, the headlines this morning from the ft include those comments from christine legarde from the imf. real concerns she has about what's happening in what she's calling a three-speed global economy, thinking this could be what leads to the next big crisis. how much do you think about this and how much credence do you give it? >> well, i'm just fresh off the plane from three days in africa. i can certainly feel some sympathy for what she's saying. that part of the world is doing...
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Apr 18, 2013
04/13
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unless there is economic reform in egypt, unless they can meet the imf standards, unless they reach out to the opposition, unless they create stability and a capacity to invite capital back from other countries, with the sense of security created, unless those things happen, right now, giving more money would actually be not too good avail. >> thank you. >> we go to tulsa of hawaii. presenceyou for your s.day and your candid answer i want to extend my appreciation and the appreciation of families for your recognizing the necessity of your focus, especially facing very real threat to four votes in hawaii, guam, and other places. doing you talked about things differently going forward. that was a two-part question what other real incentives can we provide that go beyond food aid? can we get to a position where we can negotiate and have conversations with north korea? on the sanctions front, i think the chairman mentioned earlier in his testimony about the 2005 sanctions on hard currency. we have heard from various experts that worked while it was in place, but perhaps prematurely stopped.
unless there is economic reform in egypt, unless they can meet the imf standards, unless they reach out to the opposition, unless they create stability and a capacity to invite capital back from other countries, with the sense of security created, unless those things happen, right now, giving more money would actually be not too good avail. >> thank you. >> we go to tulsa of hawaii. presenceyou for your s.day and your candid answer i want to extend my appreciation and the...
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Apr 6, 2013
04/13
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and imf figures for economic growth. growth these 20 societies where there is a military and post-conflict environments. of the 20 oh afghanistan was in the middle. in terms of economic growth, it was second from the top. government effectiveness, remarkably it was from the top. these are rates of improvement, not absolute achievement. in human development, it was the top of all 20 countries. there have been things that have gone right in afghanistan. of those 20 societies, 16 are at ease today. 16 of those 20 interventions succeeded in bringing enduring peace in afghanistan is one of the ones that didn't. that is the central failure in any kind is operation. peace operation. in the 1990's and the clinton administration, we learn something about nationbuilding post conflict intervention, reconstruction, stabilization of operations, whatever terminology you want to use. the basically learned three big lessons. the initial after failure in somalia which was a complete catastrophe. lesson one was, go in big. don't dribble y
and imf figures for economic growth. growth these 20 societies where there is a military and post-conflict environments. of the 20 oh afghanistan was in the middle. in terms of economic growth, it was second from the top. government effectiveness, remarkably it was from the top. these are rates of improvement, not absolute achievement. in human development, it was the top of all 20 countries. there have been things that have gone right in afghanistan. of those 20 societies, 16 are at ease...
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Apr 26, 2013
04/13
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afghanistan helping egypt's economy turn around and we're sort of a no show when negotiating with the imf or when syria's falling apart, that we really don't have a dog in this fight. we don't see syria as important. this is sort of from one extreme almost to another and i think that's doesn't give us really a good handle of even dealing with the problems. but the bottom line is that we cannot walk away from this regime. >> the book is "the dispensable nation." thank you. >> mika has already underlined d all the nice things you said about her father. >> amazing. they all do the same thing. they don't look at the cover. th they go to the back. >> united states, washington and israel. language goes from there. >> mika already went back to all the kind things you said about dr. brzezinski. underlined and circled them. >> my dad -- >> and circled mailer's name in the index and said, caught you, and sure enough, but -- >> thank you very much. thank you so much. >> on monday, great to see you. on monday, way too early and "morning joe" will be marking six months since superstorm sandy devastate
afghanistan helping egypt's economy turn around and we're sort of a no show when negotiating with the imf or when syria's falling apart, that we really don't have a dog in this fight. we don't see syria as important. this is sort of from one extreme almost to another and i think that's doesn't give us really a good handle of even dealing with the problems. but the bottom line is that we cannot walk away from this regime. >> the book is "the dispensable nation." thank you....
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Apr 15, 2013
04/13
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the established orthodoxies of the financial world of how you deal with a financial crisis, how the imf acknowledged that maybe they learned more from dealing with iceland than we actually learned from them. [laughter] and how we have dealt differently with the situation than many european countries like, for example, we let the banks fail, we introduced capital controls, we didn't introduce the same austerity measures as most other european countries. but whereas you could argue that our own currency, the crony, was part of the -- the krone was part of the problem leading up to the collapse of the banks, it has certainly been helpful as a part of the solution, enabling us to devalue the currency and making the export-driven sectors including the tourism sector that's more profitable. that's one of the reasons why every year since the financial crisis tourism in iceland has increased by 15-20% whereas in southern europe it has deteriorated every year. what will be the future of the currency is, of course, hotly debated in my country. there are different views on this. some people want i
the established orthodoxies of the financial world of how you deal with a financial crisis, how the imf acknowledged that maybe they learned more from dealing with iceland than we actually learned from them. [laughter] and how we have dealt differently with the situation than many european countries like, for example, we let the banks fail, we introduced capital controls, we didn't introduce the same austerity measures as most other european countries. but whereas you could argue that our own...
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Apr 2, 2013
04/13
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the imf has officially accused the administration of doctoring under the circumstances data and has threatened punishment if this is not rectified and the recent bond debt rulings in new york seem to add some increased pressure for argentina. argentina throughout all of this has followed expansionary monetary and fiscal policy. looking at exchange rate and inflation rate, this is the official versus unofficial, inflation, inflation is increasing both in the official and unofficial measures and so probably there needs it be some reckoning here. on the panel, on the left, you see the declining reserves and, so, certainly it is no the running out of reserves but this is not a good trend, and, the peso continues to be overvalued. so these are pressure points. increasing additional pressure points are the commodity prices which buoyed argentine economy throughout the 2,000s are tapering off. you also see slower growth in argentina's export markets. brazil is the main export market. brazilian growth is slowing. china also and despite dave's predictions some growth in the united states, that probably
the imf has officially accused the administration of doctoring under the circumstances data and has threatened punishment if this is not rectified and the recent bond debt rulings in new york seem to add some increased pressure for argentina. argentina throughout all of this has followed expansionary monetary and fiscal policy. looking at exchange rate and inflation rate, this is the official versus unofficial, inflation, inflation is increasing both in the official and unofficial measures and...